CRISPR Therapeutics, a leading gene editing company, has reported significant financial and business developments in its latest quarterly report. Financially, the company has issued 1.5 million common shares under the 2021 ATM at an average price of $139.28 per share, resulting in aggregate proceeds of $212.4 million net of equity issuance costs. Additionally, CRISPR Therapeutics entered into a registered direct offering in February 2024, selling approximately $280.0 million of its common shares at $71.50 per share, with net proceeds of $279.0 million. The company did not generate material revenue for the quarter ended March 31, 2024, compared to $100.0 million in the same period the previous year, primarily from an upfront payment from Vertex. Research and development expenses decreased to $76.2 million from $99.9 million year-on-year, while general and administrative expenses...Show More

CRISPR Therapeutics, a leading gene editing company, has reported significant financial and business developments in its latest quarterly report. Financially, the company has issued 1.5 million common shares under the 2021 ATM at an average price of $139.28 per share, resulting in aggregate proceeds of $212.4 million net of equity issuance costs. Additionally, CRISPR Therapeutics entered into a registered direct offering in February 2024, selling approximately $280.0 million of its common shares at $71.50 per share, with net proceeds of $279.0 million. The company did not generate material revenue for the quarter ended March 31, 2024, compared to $100.0 million in the same period the previous year, primarily from an upfront payment from Vertex. Research and development expenses decreased to $76.2 million from $99.9 million year-on-year, while general and administrative expenses also saw a reduction. CRISPR Therapeutics continues to advance its gene editing technology, with the landmark approval of its CRISPR-based therapy, CASGEVY, for severe sickle cell disease and transfusion-dependent beta thalassemia. The company is also progressing in multiple therapeutic areas, including immuno-oncology, autoimmune diseases, and type 1 diabetes. Looking ahead, CRISPR Therapeutics plans to initiate clinical trials for CTX112 in systemic lupus erythematosus and CTX131 in hematologic malignancies in the first half of 2024. The company's liquidity position remains strong with $2,108.1 million in cash, cash equivalents, and marketable securities as of March 31, 2024.